CNH/JPY may fall 11 - 16 pips

Our pivot point stands at 20.34.

Our preference

Target 20.09.

Alternative scenario

Above 20.34, look for 20.42 and 20.47.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (20.34) but above its 50 period moving average (20.21).

Supports and resistances

20.47 **

20.42 *

20.34 **

20.31

20.25 last

20.14

20.09 **

20.04 *

20.00 **

Number of asterisks represents the strength of support and resistance levels.